Common use of Amount of Severance Payment Clause in Contracts

Amount of Severance Payment. Except as provided in Section 11(b) below the Company shall pay the Executive the "Severance Payments" equal to the sum of the following: (A) the continuation, for a period of twelve (12) months following the Termination Date, of the Executive's Base Salary at the rate in effect on the Termination Date, payable in accordance with the customary payroll practices of the Company; and (B) an immediate single lump sum cash payment of any Base Salary, Bonus Plan bonuses, allowable vacation and unreimbursed expenses accrued but unpaid as of the Termination Date.

Appears in 6 contracts

Samples: Employment Agreement (Toymax International Inc), Employment Agreement (Toymax International Inc), Employment Agreement (Toymax International Inc)

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Amount of Severance Payment. Except as provided in Section 11(b) below below, within 30 days following the Termination Date, the Company shall pay the Executive a single lump sum cash payment (the "Severance Payments" Payment") equal to the sum of the following: (A) the continuation, Base Salary otherwise payable to the Executive for a period of twelve (12) months following the Termination Date, then remaining duration of the Executive's Base Salary at the rate in effect on the Termination Date, payable in accordance with the customary payroll practices of the CompanyTerm; and (B) an immediate single lump sum cash payment of any Base Salary, Stock Appreciation Bonuses, Bonus Plan bonuses, allowable vacation and unreimbursed expenses accrued but unpaid as of the Termination Date.

Appears in 4 contracts

Samples: Employment Agreement (Toymax International Inc), Employment Agreement (Toymax International Inc), Employment Agreement (Toymax International Inc)

Amount of Severance Payment. Except as provided in Section 11(b) below the Company shall pay the Executive the "Severance Payments" equal to the sum of the following: (A) the continuation, for a period of twelve nine (129) months following the Termination Date, of the Executive's Base Salary at the rate in effect on the Termination Date, payable in accordance with the customary payroll practices of the Company; and (B) an immediate single lump sum cash payment of any Base Salary, Bonus Plan bonusespayment, allowable accrued vacation and unreimbursed expenses accrued but unpaid as of the Termination Date.

Appears in 1 contract

Samples: Employment Agreement (Toymax International Inc)

Amount of Severance Payment. Except as provided in Section 11(b) below the Company shall pay the Executive the "" Severance PaymentsPayments " equal to the sum of the following: (A) the continuation, for a period of twelve (12) months following the Termination Date, of the Executive's Base Salary at the rate in effect on the Termination Date, payable in accordance with the customary payroll practices of the Company; and (B) an immediate single lump sum cash payment of any Base Salary, Bonus Plan bonuses, allowable vacation and unreimbursed unreirnbursed expenses accrued but unpaid as of the Termination Date.

Appears in 1 contract

Samples: Employment Agreement (Toymax International Inc)

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Amount of Severance Payment. Except as provided in Section 11(b) below the The Company shall pay the Executive the "Severance Payments" equal to the sum of the following: (A) the continuation, for a period of twelve six (126) months following the Termination Date, of the Executive's Base Salary at the rate in effect on the Termination Date, payable in accordance with the customary payroll practices of the Company; and (B) an immediate single lump sum cash payment of any Base Salary, Bonus Plan bonuses, allowable vacation and unreimbursed expenses accrued but unpaid as of the Termination Date.

Appears in 1 contract

Samples: Employment Agreement (Toymax International Inc)

Amount of Severance Payment. Except as provided in Section 11(b) below the Company shall pay the Executive the "Severance Payments" equal to the sum of the following: (A) the continuation, for a period of twelve six (126) months following the Termination Date, of the Executive's Base Salary at the rate in effect on the Termination Date, payable in accordance with the customary payroll practices of the Company; and (B) an immediate single lump sum cash payment of any Base Salary, Bonus Plan bonuses, allowable vacation and unreimbursed expenses accrued but unpaid as of the Termination Date.

Appears in 1 contract

Samples: Employment Agreement (Toymax International Inc)

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